125-129 Greenwell Avenue, SANTA BARBARA, CA 93067 (MLS# 23-722)

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125-129 Greenwell Avenue, SANTA BARBARA, CA 93067

$5,200,000

Property Type: Res Inc Square Footage: 6,654 Lot Size (sq. ft.): 20,473 Status: Closed

Current Price: $5,200,000 List Date: 3/20/2023 Last Modified: 4/24/2025

Overview

Description

*CALL TO OFFERS: APRIL 5TH* Seller must carry papers with exceptional terms! See details in ''More''.. Tucked between the Pacific Ocean and the Santa Ynez mountain range sits 125-129 Greenwell Ave. This Coastal Zoned property boasts two buildings consisting of (4) 2 bed / 1 bath and (6) 1 bed / 1 bath apartments. Units offer an abundance of natural light and have been well maintained and refreshed with various updates over the years. Tenants enjoy the ease of off-street parking and a communal deck with patio tables. This asset is centrally located in the charming beach town of Summerland, within walking distance to shops and eateries including Field + Fort and The Nugget, while being only a short drive to Santa Barbara's most popular hiking trails.

Supplements: Do not miss out on making this special coastal property your next investment opportunity for long-term rentals and possibly vacation rentals! Owner must carry papers with exceptional terms. See investment analysis for more information. Seller Carryback Details: -25% Downpayment -10 Year Term (Interest Only) -3% Interest Rate Year One -4% Interest ... (Read more)

Listing Details MLS# 23-722

Location Info

District: 05 - CARPINTERIA-SUMMERLAND
Street #: 125-129
Street Name: Greenwell Avenue
State: CA
Country: US
Postal Code: 93067
Compass Map: Santa Barbara
Map Grid: V12
County: Santa Barbara
Parcel Number: 005-204-048
Cross Street: Lillie Avenue

Contract Info

Price: 4750000
Buyers Agent $/%: 2.5
Begin Date: 2023-03-20

Status Information

Sold Date: 2023-05-25
Under Contract Date: 2023-04-11

Property Information

Number of Units: 10
Year Built: 1976
Main House SqFt: 6654
Apx Lot SqFt: 20473
Recurring Fees: No

Remarks

Hot Sheet Comment: new

Owner Info

Deposit: 3

More Information

Unit 1

# Units: 6
# Bedrooms: Yes
# Baths: Yes
# Half Baths: Yes
Furnished: N
Rent: 12063
Monthly Total: 12063

Unit 2

# Units: 4
# Bedrooms: 2
# Baths: Yes
Rent: 9041
# Half Baths: 0

Neighborhood/Schools

Elementary School: Summerland
Junior High School: Carp. Jr.
High School: Carp. Sr.

Condition

Good: Yes

Proximity

Near Bus: Yes
Near Ocean: Yes
Near Park(s): Yes
Near School(s): Yes
Near Shopping: Yes

Laundry

Laundry Room: Yes

Income/Expenses

Total Monthly Income: 21104
Annual Income: 253248
Gross Rent Multiplr: 18.55
Capitalization Rate: 3.01

Zoning

Other: Yes

Reports Available

Pest Inspection: Yes
Prelim: Yes
Roof: Yes

Terms

OMC 1st: Yes
OTHER/CLA: Yes

Listing Type

EA: Yes

Parking Info

Outside: Yes

Property Features

Condition: Good Parking Info: Outside Proximity: Near Bus; Near Ocean; Near Park(s); Near School(s); Near Shopping Laundry: Laundry Room Zoning: Other Reports Available: Pest Inspection; Prelim; Roof Terms: OMC 1st; OTHER/CLA Listing Type: EA

Documents

Preliminary Report ›

Pest Inspection ›

Roof Report ›

Listing Office: Radius Group Commercial R.E.

Last Updated: April - 24 - 2025

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